Section 16
Fund of the Council.
The All India Council for Technical Education Act, 1987
About this Act
An Act to provide for the establishment of an All India Council for Technical Education with a view to the proper planning and co-ordinated development of the technical education system throughout the country, the promotion of qualitative improvement of such education in relation to planned quantitative growth and the regulation and proper maintenance of norms and standards in the technical education system and for matters connected therewith.
(1) The Council shall have its own Fund; and all sums which may, from time
to time, be paid to it by the Central Government and all the receipts of the Council (including any sum which
any State Government or any other authority or person may hand over to the Council) shall be credited to the
Fund and all payments by the Council shall be made therefrom.
(2) All moneys belonging to the Fund shall be deposited in such banks or invested in such manner as may, subject to the approval of the Central Government, be decided by the Council.
(3) The Council may spend such sums as it thinks fit for performing its functions under this Act, and such sums shall be treated as expenditure payable out of the Fund of the Council.
(2) All moneys belonging to the Fund shall be deposited in such banks or invested in such manner as may, subject to the approval of the Central Government, be decided by the Council.
(3) The Council may spend such sums as it thinks fit for performing its functions under this Act, and such sums shall be treated as expenditure payable out of the Fund of the Council.